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Ireland's reliance on Corporation Tax receipts

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  • Registered Users, Registered Users 2 Posts: 8,811 ✭✭✭threeball


    We should also be using off peak wind power to produce hydrogen and store it instead of LNG which can be then used as back up energy when wind output is low.

    But our joined up thinking is non existent in this country. Rather than becoming energy independent and being able to provide green energy at a stable price to companies who might invest here we instead will pay it in fines to Portugal or Spain to buy carbon credits for their solar energy.



  • Registered Users, Registered Users 2 Posts: 2,596 ✭✭✭Mr. teddywinkles


    If we can do all this and reduce household bills. Why arent we doing it so?



  • Registered Users, Registered Users 2 Posts: 6,425 ✭✭✭Wolf359f


    It's a valid point, it can also be mixed with natural gas to pump to homes for heating or used for industry. There was talk about Germany looking at investing in Irish wind for creating hydrogen to power Germany etc…

    You also have electric vehicles in Ireland, which if a proper vehicle to grid system comes about means a massive potential for storing off peak wind/thermal to consumers batteries to feed the grid during peak times. 73k electric vehicles, even just using 10kwh of their battery is 730mwh of daily storage. Be nice if consumers profited rather than big business!

    I know there's a new policy from the government relating to micro generation and a guaranteed price for 5 years, it's a start.



  • Registered Users, Registered Users 2 Posts: 25,245 ✭✭✭✭Kermit.de.frog


    I know you are trying to put the positive spin on it and some arguments have merit.

    I think we need to prepare for a dramatic fall in income to the country. Lutnick is crystal clear and has been for many months that Ireland's position on this is going to end. I have no reason to believe that is not the case.

    The immediate problem for the exchequer is CT receipts. Job losses are more mid to long term.

    We got high on the supply of free trade. The US is going protectionist whether we like it or not. I expect Ireland to be singled out from the EU for special treatment.

    We face an existential threat to our economy and living standards from the Trump administration. No amount of sugar coating will change that.

    What I want Ireland to do now is act. Act as if the party is over today, not next year.



  • Registered Users, Registered Users 2 Posts: 8,811 ✭✭✭threeball


    Because we're a country that lives for the now. No one wants to hear about 5 or 10yr plans. Our government has no incentive to look beyond an election cycle as up to now we'd vote out the last crew if there wasn't enough giveaways in the budget. We've developed a political system that has zero ambition and it's why we've given up on indigenous industry and outsourced our future to multinationals.

    It's all going to bite us very hard.



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  • Registered Users, Registered Users 2 Posts: 8,811 ✭✭✭threeball


    As usual, they've paid it lip service. They've invested next to nothing in renewables. We have data centres chewing up any gains we made and our net carbon is worse than before. The irony is, there's millions of kWs of heat being ejected from these data centres. Enough to provide heating for entire large towns and could be provided at minimal cost to the end user and we just let them reject it to atmosphere just so they can build them quicker.

    Our energy policy, just like our infrastructure policy has been a joke and now our foreign policy is fast becoming one. We react after the fact to everything and we're always last to the party. But we're happy once we get two euro more in the pension and potholes are filled.



  • Registered Users, Registered Users 2 Posts: 1,690 ✭✭✭riddles


    housing was built to zero standard I think 75% of all houses were were built after 1997. We now have housing been built many many KMs from the source of actual jobs so no planning at all really. Most working people with mortgages can’t afford a retro fit but are paying more for heating etc.

    housing is being built where proper water treatment doesn’t exist. Perhaps the biggest indictment of our period of sustained economic growth is the failure to protect the rivers and lakes.
    Going to be some setup when the chickens come home to roost.



  • Registered Users, Subscribers, Registered Users 2 Posts: 6,678 ✭✭✭hometruths


    I wasn't contradicting the need for Congress, I was referring to this point you made:

    There are already countries with lower CT rates than Ireland, and have been for some time even in the EU, but that hasn't caused a flood of movement out of the country either



  • Registered Users, Registered Users 2 Posts: 5,299 ✭✭✭enricoh


    Trump's pressure is paying off on pharma industry. Thankfully for us

    4 years from turning the sod to manufacturing



  • Registered Users, Registered Users 2 Posts: 10,827 ✭✭✭✭Marcusm


    The Pharma is just as easy to repatriate and in many cases is more egregious than the approach of the tech sector - with tech, it is usually non-US rights, with pharma it is generally worldwide rights and the US is by far the most lucrative market.



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  • Registered Users, Registered Users 2 Posts: 8,784 ✭✭✭BrianD3


    We are a stroke pulling, seat of the pants country, we should have learned from the last crash but didn't because we never learn and never plan. In a few years we went from "the fundamentals are sound" and soft landings to a Troika bailout and ghost estates. A few years after that we were into another, different, boom. .

    The average person has long forgotten 2008 unless they lost their home at the time which most didn't. We now have near full employment but crises in housing, health and other public services and increasing attention on our pathetic defence capabilities. The problems are spun as being a consequence of how great the economy is doing.

    House prices higher than they've ever been which pleases many and there is plenty of property porn on RTE, Hugh Wallace, Dermot Bannon. People complaining about the cost of living while regularly eating out, going on several foreign holidays per year and buying new cars every 3 years on PCP.

    When the risks associated with our dependence on multinationals are raised the response from the deflectors is they're embedded here, it would take them years to relocate operations. We've an educated workforce. We're the only English speaking country in the EU (which is BS by the way, relying on speaking English is another stroke that will bite us at some point)

    But nevermind any of that - we'll convince the US administration to leave us alone because as per M. Martin in the White House "Ryanair buy planes from Boeing".

    Post edited by BrianD3 on


  • Registered Users, Registered Users 2 Posts: 1,010 ✭✭✭Gussie Scrotch




  • Registered Users, Subscribers, Registered Users 2 Posts: 6,678 ✭✭✭hometruths


    When the risks associated with our dependence on multinationals are raised the response from the deflectors is they're embedded here, it would take them years to relocate operations. We've an educated workforce. We're the only English speaking country in the EU

    The fundamentals are sound.



  • Registered Users, Registered Users 2 Posts: 2,584 ✭✭✭hold my beer




  • Registered Users, Registered Users 2 Posts: 678 ✭✭✭engineerws


    This is a bit OT but…

    For instance, Denmark-based wind generator Ørsted canceled its Ocean Wind 1 and 2 projects in New Jersey, even after being awarded an additional $1 billion in tax credits that were supposed to be returned to that state’s electric ratepayers.

    That doesn't strike me as an industry that generates revenue. It sounds more like one that needs state supports to survive.



  • Registered Users, Registered Users 2 Posts: 23,262 ✭✭✭✭Akrasia


    In an environment where fossil fuels have been getting about $7 trillion in subsidies globally in the past few years

    Fossil Fuel Subsidies Surged to Record $7 Trillion

    This is as an established industry with mature markets and infrastructure, of course there will be a requirement for state supports for renewable energy infrastructure.

    Given that these supports, tax credits, subsidies and grants are already baked into the budgets of most economies, moving those across from fossil fuels to renewable energy should cancel each other out.

    Look at EDF in France, they get billions in state subsidies to allow them to sell cheap electricity in France, but they still can earn billions in revenue from selling electricity internationally, and construction and operations of nuclear power stations abroad

    ESB networks in Ireland require state subvention, but ESB networks international are a profitable revenue stream (about 750m profit per year).

    Chomsky(2017) on the Republican party

    "Has there ever been an organisation in human history that is dedicated, with such commitment, to the destruction of organised human life on Earth?"



  • Registered Users, Registered Users 2 Posts: 678 ✭✭✭engineerws


    You've just said we can replace corporate tax revenue with the revenue from offshore wind farms. If we have to directly subsidise private companies to build them, I don't understand how building offshore wind will replace corporate taxation revenue.



  • Registered Users, Registered Users 2 Posts: 1,126 ✭✭✭greenfield21


    Seems like blanket tariffs for Europe next week, still alot of uncertainty of what will happen next. But looks like Ireland will not be singled out for now. Trump also announcing more details today on Auto tariffs 4pm ET.

    Maroš Šefčovič shared assessment after meetings in Washington this week

    The EU’s top trade negotiator expects Donald Trump to hit the bloc with tariffs of about 20 per cent next week as the US president takes aggressive steps to cut trade deficits.

    Two people said the commissioner suggested, based on his own assessment following his talks in Washington, that the tariffs would be “in the realm of 20 per cent”. The US gave no indication there would be any exemptions or exceptions.



  • Registered Users, Registered Users 2 Posts: 25,245 ✭✭✭✭Kermit.de.frog


    Beware that Trump needs to bury this Signal business and this would be such an opportunity to take away some focus. Not saying that will happen or is even likely but if they wanted something headline grabbing he could be more than tempted...



  • Registered Users, Registered Users 2 Posts: 14,734 ✭✭✭✭ednwireland


    i didnt think that technology existed off the shelf, i suspect we will be lng for a good while

    My weather

    https://www.ecowitt.net/home/share?authorize=96CT1F



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  • Registered Users, Registered Users 2 Posts: 1,126 ✭✭✭greenfield21


    Trump name checks Ireland on pharma again. Only country he has called out by name.



  • Registered Users, Registered Users 2 Posts: 4,916 ✭✭✭Infoanon


    He name checked China ,then Ireland ,adding 'they are very smart ' 'we love Ireland'



  • Registered Users, Registered Users 2 Posts: 1,126 ✭✭✭greenfield21


    How did I miss that, 😳 OK. But this post seems to be accurate now, why tell us these tariffs will be coming on April 2 and annouce today and not next week with all the other tariffs. Pointless and only trying to change focus.



  • Registered Users, Registered Users 2 Posts: 30,894 ✭✭✭✭blanch152


    It won't reduce household bills because solar and wind aren't cheaper. There is no alternative to higher energy prices if the planet is to be saved.



  • Registered Users, Registered Users 2 Posts: 2,596 ✭✭✭Mr. teddywinkles




  • Registered Users, Registered Users 2 Posts: 7,632 ✭✭✭timmyntc


    This is not true.

    Energy prices right now are set by most expensive component which is gas. When EU abandons marginal pricing rules for energy prices will come down due to cheaper renewables which have displaced expensive natural gas.



  • Registered Users, Registered Users 2 Posts: 1,126 ✭✭✭greenfield21


    April 02nd will possibly be worst day for Ireland since GFC when Ireland was bailed out. OK maybe, but not sure we're there yet. Just a bit pessimistic.



  • Registered Users, Registered Users 2 Posts: 12,270 ✭✭✭✭Rjd2


    Still astonished that their were plenty of Irish people who were cheering on Trump ahead of Kamala.

    Kamala was very average, but from an Irish POV she would have been harmless. This is anything but harmless unfortunately and it wasn't as this wasn't something he had been talking about for a long time.



  • Registered Users, Registered Users 2 Posts: 275 ✭✭Hodger


    Just as turkeys don't vote for Christmas: Any sane rational person doesn't cheer on someone who might act their countries economic / financial Interests. These self pro claimed Irish patriots who support trump. Anyone who is on twitter or observing the various protests outside migrant centres will know who they are. They have a very one dimensional outlook and short sighted in supporting trump.



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  • Registered Users, Registered Users 2 Posts: 25,245 ✭✭✭✭Kermit.de.frog


    Good to see the government being straight with people this week that our circumstances are probably about to change.

    We've been unique in Europe the last few years being able to increase spending and cut taxes - a very different picture to pretty much every other country.

    I think they should maintain infrastructure spending but no more give away budgets, that's for sure. Restrain current spending like it's an emergency. If we can somehow keep our finances balanced or even in surplus we'd be doing well. I wouldn't be optimistic.

    The give away budget in October before the US election was a mistake that wouldn't have happened in December.



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